JP Morgan Chase bank rocked Wall Street to its core late Thursday and into Friday after the nation’s largest bank announced it had lost $2 billion in trades over the past six weeks and could face an additional $1 billion of losses due to risky bets that blew up.

After more than a year of negotiations, five major banks will pay approximately $26 billion to American homeowners for the banks roles in foreclosure abuses including the robosigning scandals that ravaged the industry.